Here is what we were looking at Fri morning after our talk:
We discussed the break of the wedge pattern and supporting Fib level, both of which broke while we talked. Pink 34ma and supporting technicals just underneath this were the next trigger considerations for drop to the next lower Fib retracement level (purple).
Here is what we are looking at Mon morning.
Market continued to sell off. A spike on Fri can be seen in to a target area. Sunday night we have a gap open in to another target area, then a sell off to the next Fib level (target from Fri) and spike in to the middle of the purple 4hr target.
Black channel can be seen, waiting for a break-out of this offers least risk, moves inside- bounces between channel support and resistance - can also be played with more risk.
